WELACO
ActiveSummary
WELACO has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.54M and a net result of €320k. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 95% of 1004 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
98
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability93▲+15
Solvency100▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150k at 30 days acceptable
Liquidity ample (current ratio 17.42 against 3.02 in 2024; short-term debt: 5.7% and cash: 45.9% of total assets), and 5.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 69
Relative position
BE, all sectors
reference
Sector 69
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
94.3%
Return on assets
19.5%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 18-08-2026, 18 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
18 d late
2024
18 d late
2023
6 d early
2022
32 d late
2021
31 d late
2020
89 d late
2019
89 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€320k▲ 126%
2024 · €142k
2018: €133k
2019: €139k
2020: €128k
2021: €149k
2022: €154k
2023: €188k
2024: €142k
2018 → 2025
Working capital
€1.54M▲ 26.4%
2024 · €1.22M
2018: €536k
2019: €674k
2020: €802k
2021: €967k
2022: €1.11M
2023: €1.29M
2024: €1.22M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.24M-€1.39M▲ 12.5%€1.58M▲ 13.5%€1.22M▼ 22.7%€1.54M▲ 26.2%
Operating result€209k-€207k▼ 1.1%€254k▲ 23.0%€196k▼ 22.7%€469k▲ 139%
Net result€149k-€154k▲ 3.2%€188k▲ 22.1%€142k▼ 24.8%€320k▲ 126%
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 139% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.64M
Fixed assets
€3k ▼ 37.2%
Current assets
€1.63M ▼ 10.3%
Equity and liabilities €1.64M
Equity
€1.54M ▲ 26.2%
Debt
€94k ▼ 84.4%
Debt's share of the balance-sheet total falls from 33.0% to 5.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€473k▲
2024 · €202k
Cash flow
€324k▲
2024 · €148k
Current ratio
17.42▲
2024 · 3.02
Debt to equity
0.06▼
2024 · 0.49
ROE
20.7%▲
2024 · 11.6%
ROA
19.5%▲
2024 · 7.8%
Interest coverage
187.17▼
2024 · 191.81
Debt ≤ 1 year
€94k▼
2024 · €602k
Income taxes
€147k▲
2024 · €64k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.83M€1.64M▼
Fixed assets21/28€5k€3k▼
Tangible fixed assets22/27€5k€3k▼
Plant, machinery and equipment23€2k€861▼
Furniture and vehicles24€3k€2k▼
Current assets29/58€1.82M€1.63M▼
Amounts receivable within one year40/41€243k€371k▲
Trade receivables40€118k€248k▲
Other amounts receivable41€125k€124k▼
Current investments50/53€341k€511k▲
Cash at bank and in hand54/58€1.24M€751k▼
Equity and liabilities
Total equity and liabilities10/49€1.83M€1.64M▼
Equity10/15€1.22M€1.54M▲
Contributions10/11€6k€6k=
Outside capital11€6k€6k=
Other1109/19€6k€6k=
Reserves13€1.12M€1.44M▲
Non-distributable reserves130/1€65k-
Reserves not available under the articles1311€65k-
Distributable reserves133€1.05M€1.44M▲
Profit (loss) carried forward14€98k€99k▲
Amounts payable17/49€602k€94k▼
Amounts payable within one year42/48€602k€94k▼
Trade debts44€35k€31k▼
Suppliers440/4€35k€31k▼
Taxes, remuneration and social security45€93k€62k▼
Taxes450/3€93k€62k▼
Other amounts payable47/48€475k-
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€4k▼
Other operating charges640/8€4k€3k▼
Gross operating margin9900€207k€477k▲
Operating profit (loss)9901€196k€469k▲
Financial income75/76B€10k€1▼
Recurring financial income75€10k€1▼
Financial charges65/66B€1k€3k▲
Recurring financial charges65€1k€3k▲
Profit (loss) for the period before taxes9903€206k€467k▲
Income taxes67/77€64k€147k▲
Profit (loss) for the period9904€142k€320k▲
Profit (loss) for the period to be appropriated9905€142k€320k▲
Appropriation of the result
Profit (loss) to be appropriated9906€239k€418k▲
Profit (loss) brought forward from the previous period14P€97k€98k▲
Transfer from equity791/2€500k-
Transfer to equity691/2€141k€319k▲
To other reserves6921€141k€319k▲
Profit to be distributed694/7€500k-
Return on contributions (dividend)694€500k-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 18 days late
2025
31-12
Financial
Highest result since 2018net €320k ▲126%
Operating result €469k, net result €320k, both a record.
31-12
Financial
Liquidity times 6current ratio 17.42
Current ratio from 3.02 to 17.42; short-term debt falls from €602k to €94k.
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 18 days late
2024
22-10
State Gazette act
General meeting · Capital increase
Statutes amendment · Director resignation
22-10
State Gazette act
General meeting · Capital increase
Statutes amendment · Director resignation
14-10
State Gazette act
General meeting · Capital increase
Share cancellation · Capital
25-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 32 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Weakest financial yearnet €128k ▼7.9%
Net result drops to €128k, the lowest in the series; recovery starts the following year.
Show earlier events
31-12
Financial
Equity above €1MEq €1.09M ▲13.3%
3 profitable years in a row build equity to €1.09M.
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 30 days late
2018
17-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 48 days late
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 121 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Ninove · 1 establishment unit since 2026
Ground area
284 m²
Building footprint
96 m²
Volume, LiDAR
883 m³
Parcel 41362B1536/00V006, Flanders · tallest building 13.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Welaco
since 20262.390.004.873
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41362B1536/00V006 | Flanders | 284 m² | 1 · 96 m² | 13.0 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
Mondriaan Holding
BE 0750.838.297
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TUYMANS
BE 0463.197.665
Malle · Eq €1,541,122
FISCALIS
BE 0442.898.634
Eeklo · Eq €1,539,976
EXPERYA HOLDING
BE 0798.523.992
Fleurus · Eq €1,546,585
KANTOOR DE VLIEGER
BE 0892.429.395
Aalter · Eq €1,538,853
Of 12,173 companies in sector 69201 we hold annual accounts for 7,638. 3,588 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded24-01-2007
Fiscal year end31-12
Activities, NACEBEL 2025
69201Certified accountants and tax accountants
70200Business and other management consultancy
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.